EX-12 3 rpm-ex12_9.htm EX-12

Exhibit 12

RPM

RATIO OF EARNINGS TO FIXED CHARGES

Periods Ended May 31, 2013 through May 31, 2018

|  | Year Ended May 31,
|  | 2018 |  | 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Ratio of Earnings to Fixed Charges 1 |  | 4.31 |  | 3.08 |  | 5.36 |  | 5.29 |  | 5.34 |  | 2.86

1 Calculated as follows |  |  | (income before income taxes) + (fixed charges) |  |  |
|  |  |  |  | (fixed charges) |  |  |

Fixed charges consist of interest expense, amortized expenses related to debt and an estimate of the interest portion of rental expense.

|  | Year Ended May 31,
(All numbers in thousands) |  | 2018 |  | 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Income before income tax |  | 417,048 |  | 244,333 |  | 483,466 |  | 453,253 |  | 424,487 |  | 176,891
Fixed charges |  | 125,979 |  | 117,387 |  | 110,851 |  | 105,549 |  | 97,918 |  | 95,346
Total |  | 543,027 |  | 361,720 |  | 594,317 |  | 558,802 |  | 522,405 |  | 272,237